Bitumen
Bitumen is one of the most significant petroleum constituents. It is also known as Asphalt, a byproduct of crude. It is black in color, dense, and highly viscou...
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Weak Chinese Demand and Supply Glut Weigh on Crude Prices
Crude oil prices witnessed a modest rise driven by geopolitical tensions and fluctuating market dynamics. China's reduced refinery throughput and subdued crude oil demand significantly influenced the market, dampening global oil price gains. Additionally, the International Energy Agency (IEA) forecasts a global supply surplus in 2025 despite OPEC+ production cuts.
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India’s Ascent as Europe’s Largest Supplier of Refined Fuels
As oil prices decline due to stable U.S. supply and China’s weaker-than-expected economic initiatives, India’s refined fuel exports to Europe continue to grow, surpassing Saudi Arabia’s export levels. This strategic realignment in energy supply, fueled by Europe’s Russian oil embargo, underscores India’s role as a leading fuel exporter, potentially driving expansions in its refining capacity.
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Bitumen Prices Surge Amid Middle East Tensions, Seasonal Demand, and OPEC Adjustments
VG40 and VG30 bitumen prices have increased across India, attributed to reduced supply and seasonal demand from infrastructure projects. Prices of crude oil also reflect global supply concerns, including OPEC’s delayed production hikes and possible additional output from Iran.
Read Story
Oil Prices Dip as Markets Expect Supply to Exceed Demand Amid Lower Geopolitical Tensions
Crude oil prices dropped over 4% as limited Israeli action on Iran eased market fears of energy disruptions. With analysts predicting a surplus for 2025, crude prices are expected to remain under pressure.
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India's Crude Oil Market Rising Import Dependence Geopolitical Shifts and Supply Diversification Efforts
Oil prices stabilized slightly after a significant drop last week, with both Brent and WTI showing marginal gains. India’s crude oil import bill rose by 12% in the first half of FY25, amid declining domestic production.
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Oil Prices Fall Amid China’s Economic Slowdown and Demand Concerns
Brent crude futures were down $1.26, or 1.59%, at $77.78 per barrel by 0020 GMT, and U.S. West Texas Intermediate crude futures fell $1.20, or 1.59%, to $74.36 per barrel. MCX Crude oil prices opened at 6,288 with a fall of 1.19%.
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GP Petroleums and West Coast Oils Form Joint Venture to Enhance Bitumen Supply
Brent crude oil futures fell by 29 cents, or 0.4%, to $79.11 a barrel by 0430 GMT. U.S. West Texas Intermediate crude futures dropped 21 cents, or 0.3%, to $75.64 per barrel. GP Petroleums Limited (GPPL) has announced a strategic partnership with West Coast Oils (WCO), based in Vadodara, Gujarat, to establish a joint venture focused on the specialty and general bitumen sector.
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Goldman Sachs Warns of Oil Price Surge from Iranian Losses
Crude oil futures traded lower on Monday morning after witnessing their largest weekly gains last week due to escalating tensions in West Asia. December Brent oil futures were at $77.75, down by 0.38 percent, and November crude oil futures on WTI (West Texas Intermediate) were at $74.16, down by 0.30 percent.
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India's Oil Exports Affected Due to Crude Oil Price Dip
A decline in overall exports was noticed in August due to decrease in crude oil prices. India majorly exports petroleum products to Netherlands, Singapore, Australia, and South Africa.
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Daily Market Report
Weak Chinese Demand and Supply Glut Weigh on Crude Prices
Crude oil prices witnessed a modest rise driven by geopolitical tensions and fluctuating market dynamics. China's reduced refinery throughput and subdued crude oil demand significantly influenced the market, dampening global oil price gains. Additionally, the International Energy Agency (IEA) forecasts a global supply surplus in 2025 despite OPEC+ production cuts.
Read Story
India’s Ascent as Europe’s Largest Supplier of Refined Fuels
As oil prices decline due to stable U.S. supply and China’s weaker-than-expected economic initiatives, India’s refined fuel exports to Europe continue to grow, surpassing Saudi Arabia’s export levels. This strategic realignment in energy supply, fueled by Europe’s Russian oil embargo, underscores India’s role as a leading fuel exporter, potentially driving expansions in its refining capacity.
Read Story
Bitumen Prices Surge Amid Middle East Tensions, Seasonal Demand, and OPEC Adjustments
VG40 and VG30 bitumen prices have increased across India, attributed to reduced supply and seasonal demand from infrastructure projects. Prices of crude oil also reflect global supply concerns, including OPEC’s delayed production hikes and possible additional output from Iran.
Read Story
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